Marijuana Price Up 1% to $1,682 a Pound

For the week ended Friday, March 31, 2017, the spot price index for a pound of cannabis increased by 0.8% from $1,669 in the prior week to $1,682. According to the analysts at Cannabis Benchmarks, the simple average price for a gram ticked lower, from $4.13 to $4.12.

The futures price for the near-month (April) rose $25 to $1,725. For the month of May, the forward price remained unchanged at $1,750. The six-month forward price (September) was also unchanged $1,535 a pound.

About two-thirds of the past week’s transactions occurred in a range of $1,037 to $2,700 per pound.

The analysts had additional comments this week about the rise in the spot price:

As 4/20 approaches, this is the third consecutive week in which the national composite rate has achieved a new year-to-date high price. Rate increases in California, Oregon, and, to a lesser extent, Washington, drove the overall upswing this week after all three of those states saw declines in their Spot prices last week. As Q1 2017 comes to a close, the U.S. Spot is up 9.8% from the rate of $1,532 per pound, observed at the beginning of the year and also the lowest national volume-weighted average price documented thus far in 2017. March alone saw an 8% rise in the U.S. Spot from the beginning of the month through this week. Though legal cannabis is not the novelty it once was in some states, the trends observed in recent weeks indicate that the 4/20 holiday can still encourage increased demand and work to push up rates in the period ahead of the events and celebrations that take place in various states.

Indoor flower prices ranged from $800 to $7,200 per pound, with a median price of $1,900. Greenhouse flower prices ranged from $900 to $3,400 per pound, and the median price was $1,305. Outdoor flower prices ranged from $800 to $1,900 per pound; the median price was $1,450.

For a wide-angle look at the cannabis industry, see our report on the largest companies in the marijuana business.

Our price check at MJCharts indicates prices range from $22.00 a gram to a low of $3.00 in the all-cities index. The all-cities index price is $11.06 per gram, up a penny compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.98, ranging from a high of $15.00 a gram to a low of $8.00. In California the average price is $14.85 per gram, ranging from $22.00 down to $12.00 per gram. In Michigan the average price is $15.23 per gram in a range of $20.00 to $10.00, while in Oregon the average is $11.01 per gram in a range of $21.00 to $3.00. Data for Washington state were not available again this week.